Conergy: operations to continue through insolvency

Four days after filing for insolvency in Hamburg, German solar group Conergy AG said operations at its subsidiaries would continue unchanged. While the company has halted work in Frankfurt an der Oder, it expects production to restart soon.

Conergy's insolvency administrator hopes operations at the parent group and its subsidiaries continue uninterrupted.

Conergy AG

Germany's insolvent solar group Conergy AG said on Tuesday that operations at the parent company and at its Mounting Systems subsidiary would continue unchanged.

Hamburg-based Conergy, which filed for insolvency on July 5, has some 200 employees in Hamburg, 200 workers at its Mounting Systems manufacturing plant in Rangsdorf and another 50 at its main warehouse in Zweibrücken. Operations at all the sites are set to continue.

Conergy's court appointed insolvency administrator, Sven-Holger Undritz of the law firm White & Case, said, "Production at Mounting Systems was never interrupted and will continue unchanged. Business operations will continue without interruption. The facility is working at full capacity and Mounting Systems remains fully able to deliver. Nothing will change immediately for the approximately 200 employees there."

Undritz added that the company's main goal was to "to continue business operations unchanged in all areas if possible, to secure jobs and to maintain customer and supplier relationships." Undritz added that the wages and salaries of all Conergy employees had been secured by the insolvency proceedings for the time being.

Conergy was forced to temporarily halt production at its module factory in Frankfurt an der Oder but the company said Undritz was eager to restart production there as quickly as possible in order to process the backlog of orders.

Undtritz said talks were currently underway with the company's shareholders and political representatives.

The administrator added that Conergy's foreign subsidiaries were not currently affected by the insolvency proceedings. "Of course, we are examining the impact of the filing on all of our distribution companies at home and abroad. In Germany neither Conergy Services GmbH nor Conergy Deutschland GmbH has been affected by the preliminary insolvency and at the moment we are optimistic that the activities of the international offices will continue to run smoothly."